eToro versus NAGA

The 25M+ eToro trading community benefits from CopyTrader, CopyPortfolios, and in-house managed thematic investment portfolios. Beginners get a quality educational portal with eToro Academy, eToro plus, and The Bull Club. eToro also expanded further in cryptocurrencies with a newly launched NFT fund.

NAGA is a fast-growing social trading broker headquartered in Germany, where its 2017 IPO ranked as the most successful that year. Traders get the MT4/MT5 trading platforms for algorithmic portfolio management. It also developed a popular mobile app and payment solution, issued its cryptocurrency coin, and remains financially backed by well-known investors. NAGA also launched its NAGAx crypto exchange and features quality education.

We have conducted an in-depth review of eToro and NAGA to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformseToro (visit site)NAGA (visit site)
Established :
Retail Loss Rate:
Minimum Deposit:
$10 - $10,000$250
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
$10 monthly after 12 months$20 annually after 12 months
Deposit Fee:
Third-Party Third-Party
Withdrawal Fee
Yes + Third-Party Yes + Third-Party
Funding Methods:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Large trading communityCopy-trading platform
Unique Feature Two:
Copy-trading platformNFT marketplace
Broker Offers:
*74% of retail CFD accounts lose money


eToro has more active social traders, but NAGA has a broader product and services portfolio resulting in a more competitive and cheaper trading environment.

Available Markets

Available MarketseToroNAGA
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
Maximum Pro Leverage:

Both brokers offer traders a balanced asset selection with sufficient trading instruments for most retail traders. eToro has more than twice as many equity CFDs as NAGA and provides in-house managed thematic portfolios. NAGA offers higher leverage in its non-EU entity and maintains a better cryptocurrency coverage, and both also feature direct share dealing for long-term investors.

Typical Spreads and Fees

Typical Spreads & FeeseToroNAGA
Minimum Raw Spreads:
Not applicableNot applicable
Minimum Standard Spreads:
1.0 pips1.2 pips
Minimum Commission for Forex:
Commission for Equity CFDs:
0.09%€1.98 - €5.00 / 0.10%
Cash Rebates:
Execution Type:
Market MakerMarket Maker

eToro and NAGA both maintain relatively higher-end Forex trading costs, which NAGA lowers for deposits above $50,000. Equity CFDs at eToro face a 0.09% commission and a €1.98 to €5.00 flat fee at NAGA, making it cheaper for most CFD traders, but eToro offers commission-free direct share dealing.

Security and Trust


Country of the RegulatorName of the RegulatorLicense Number
Cyprus Securities Exchange Commission109/10
Financial Conduct Authority583263
Australian Securities and Investments Commission491139
Financial Services AuthoritySD076


Country of the RegulatorName of the RegulatorLicense Number
Cyprus Securities and Exchange Commission204/13
Register of Economic ActivityFVT000428

While eToro and NAGA both segregate client deposits from corporate funds, offer negative balance protection, and have clean track records, eToro also has a $1,000,000 third-party insurance program underwritten by Lloyd's of London. Most international traders at NAGA will deal with the unregulated but duly registered unit operating from St. Vincent and the Grenadines, company number 1189 LLC 2021. NAGA is also a publicly listed company in Germany.

eToro vs NAGA – Verdict


Copy-trading with a community numbering almost 25 million tradersHigher minimum deposit requirement but within a reasonable range
User-friendly web-based trading platform and mobile appAbsence of MT4 and no algorithmic trading
Quality educational offering for beginner traders via videos
Balanced asset selection with a focus on equity CFDs and ETFs


Active social trading community with 1M+ tradersAbove-average trading costs
950+ assets, including a broad choice of cryptocurrency CFDsHigh minimum deposit requirement
Publicly listed company in Germany backed by Chinese conglomerate FOSUN
Excellent in-house developed copy trading infrastructure

eToro and NAGA are social trading brokers. The former has more active traders, but the latter maintains a higher quality product and services portfolio. NAGA also offers a superior compensation plan per copied trade, which increases with the account level and supports algorithmic trading, making it the better overall choice.

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